Support Affordable Housing Projects and Qualify for Minnesota Tax Credit
When you support affordable housing projects in Minnesota, you can qualify for a tax credit up to 85%! Click the link below to support First Homes’ latest new-construction project, supporting the need for multigenerational homeownership opportunities in our community, and you may qualify for tax credit up to 85%.
10 New Affordable Homes Coming to Rochester, MN
The Olmsted County Housing and Redevelopment Authority (HRA) has begun its latest affordable homeownership project with 10 affordable homes being built in Rochester, MN. Using 10 county-owned, residential lots located on Red Hawk Dr. SE, Rochester, MN, the HRA is building 10 new-construction homes. All 10 homes will be subsidized and added to the First Homes Community […]
CLT Homeowners May Qualify for Tax Credits
Thanks to action taken recently by the Minnesota Legislature, Community Land Trust (CLT) homeowners may qualify for a reduction in property taxes. CLT properties in good standing are now taxed at a 0.75% flat rate, resulting in a reduction of 25% in property taxes paid by CLT homeowners. Here’s what you need to know. Who […]
The Unexpected Journey that Led to Six New Affordable Homes in Rochester, MN
The nation faces an affordable housing crisis and Rochester, MN, is not immune to its effects. Rents are rising, the stock of smaller, starter homes is limited, and new construction seems to exclusively target high-income buyers and renters. According to the 2020 Olmsted County Comprehensive Housing Study, Olmsted County is woefully behind the number of new housing units […]
“This is Christmas Letter News” Homeowner Finds Freedom in Accessible Home
2020 proved to be an especially challenging year for Rochester resident, Lisa Lundquist. In addition to a global pandemic, Lundquist was struggling with a series of falls. “I thought it was my hip,” Lundquist recalled. Thinking the cause was arthritis, she began using a walker to get around. However, she continued to fall in her […]
First Homes Breaks Ground on 9th Avenue Row Houses
First Homes is excited to announce that on June 16th, we broke ground to mark the beginning of our newest affordable housing project: the 9th Avenue Row Houses! The 9th Avenue Row Houses add six new construction affordable housing units on what was previously two lots. The project is located in the City’s recently adopted […]
What You May not Know About First Homes’ CLT Director & Commission
Since the 1930s, Community Land Trusts (CLTs) have been creating and maintaining affordable housing options globally. However, there are still plenty of myths and misconceptions surrounding CLTs. One of the biggest misconceptions that First Homes encounters is that our Director of the CLT, an on-staff realtor who manages the sale and purchase of CLT homes, […]
First Homes Makes the American Dream of Homeownership a Reality
The “American Dream” is often taken for granted in the United States. You are born, grow up, get a job, get married, have children, and buy a home. That home provides your family security and stability for many years and allows your children to grow and prosper. Unfortunately, that dream is not a reality in […]